GBP/USD is expected to undergo a short-term upward correction

GBP/USD has recently experienced a period of lackluster recovery and has dropped below the 1.2450 USD. Overall, the price of the GBP/USD currency pair is maintaining a downward trend due to lingering political tensions from the Middle East countries.

Technical indicators also support this downward trend, bolstering its strength. However, prices are gradually correcting upwards and showing signs of testing the SMA 20 area in the near future.